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Manila Bulletin devider Philippines devider National devider Zubiri: PBBM to sign MIF bill into law on July 18

Zubiri: PBBM to sign MIF bill into law on July 18

Published Jul 12, 2023 08:48 am
Senate President Juan Miguel "Migz" Zubiri said President Ferdinand “Bongbong” R, Marcos Jr. is scheduled to sign the controversial Maharlika Investment Fund (MIF) bill into law on July 18.                 Senate President Juan Miguel "Migz" Zubiri (Senate PRIB Photo)

In a text message to reporters today, July 12, Zubiri said the President would sign the MIF measure  along with the bill extending the availment period of Estate Tax Amnesty. The MIF bill seeks to tap state assets for investment ventures in hopes of generating additional public funds. It is a Malacanang-certified measure. Marcos earlier stressed that the MIF would be independent from the government once the MIF bill is enacted into law. He had also said he would sign the bill as soon as he get a copy of the MIF bill. “Even I proposed to the House was to remove the President as part of the Board, to remove the central bank chairman, to remove the Department of Finance, because it has to operate as an independent fund, well-managed professionally,” Marcos had said. The President had said decisions in relation to this fund should not be linked to politics. Budget Secretary Amenah Pangandaman earlier said that the administration’s economic managers are urging Marcos to sign the bill before his second State of the Nation Address (SONA) on July 24.

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Senator Migz Zubiri Maharlika Investment fund PBBM
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